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The record high of about USD 2,130 an ounce was set just after the weekend in low-liquid Asian markets. By the nature of the movement, it looked more like a cascading triggering of sellers’ stop losses, rather than finding a stable balance between supply and demand, since after the candle with a long upper tail, […]

The post Gold Falls from Record High by $100 in 1 Day appeared first on Action Forex.

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10/04/2024

US: Core Inflation Comes in on the Hotter Side for a Third Consecutive Month

The Consumer Price Index (CPI) rose 0.4% month-on-month (m/m) in March, in line with the consensus forecast. On a twelve-month basis, CPI inched higher to 3.5% (from 3.2% in February). Energy prices were driven higher by further gains in gasoline prices (+1.7% m/m) and electricity costs (+0.9% m/m). Food prices ticked up 0.1% m/m and […]
18/01/2024

U.S. Retail Sales Close 2023 on an Stellar Note 

Retail sales rose by 0.6% month-on-month (m/m) in December, extending November’s 0.3% gain. This was higher than consensus forecast calling for an increase of 0.4%. Trade in the auto sector was up on the month rising by 1.1% m/m. This reflected an increase in sales at both motor vehicle dealers (up 1.2%) and automotive parts […]
02/12/2023

Gold Remains Trapped Below 2,050

Gold flatlines near former resistance Short-term bias leans to the downside Key support levels hold intact Gold shifted to the sidelines following the advance towards its May 2023 resistance of 2,051 on Wednesday. The 20-period simple moving average (SMA), which has been cooling downside pressures recently, seems to be cracking at 2,038, but the support trendline drawn from […]